Below is mandatory reading for all viewers, in my opinion. The rally we got started was at the recent $380 peak before today when Bitcoin.com published an article directly declaring Bitcoin Cash as the Bitcoin:
Also mandatory reading in my opinion is Reddit's u/singularity87 making a great post summarizing the history of the Bitcoin community, the censorship that's gone on, exactly how this fork drama came to be, and why Bitcoin Cash came into existence and what it really is. You need to spend an hour reading this because it's an incredibly correct summary of the truth.
I can confirm this because I was around at the time of the $290 bubble and the Gox collapse, left crypto, and only recently came back. I have the juxtaposition of how things used to be, and am completely unbiased as I wasn't invested in any cryptos until August of this year. I even wondered why the hell my Bitcointalk account was banned. Now I know.
Bitcoin Cash is Bitcoin. Bitcoin Cash has been fully bear market corrective cycled and is ready to go. We are currently breaking up, on volume, out of the long-term downtrend line, and have broken upwards out of an ascending wedge.
Bitcoin Cash currently is a crypto you can buy for 3 digits.
In about a week and a half as this fork drama heats up and the large players behind Bitcoin Cash like Roger Ver and Jihan Wu et all start to make their investment realize their gains, Bitcoin Cash is going to be a currency you will only ever be able to buy for 4 digits again.
Think about how easy of a long this really is, whether you believe in the project or not, or whether you've been poisoned by Blockstream's PR department or not. This is all about making money.
And this is the greatest chance in crypto history.
What an amazing write-up. I was indecisive for the last few days because I moved into Crypto quickly and put 65% of my holdings into BCH. I was waiting for a crash in cryptos to buy more BCH at lower prices and also because a (BTC) crash would give relief as it is already extended.
But your write-up convinced me to add more BCH. Unfortunately, the only way I can invest in BCH is through my FIAT->BTC->BCH. Planned to put in $500 and purchased BTC and then sent to my exchange account to convert to BCH
BUT
It's been almost an hour and my BTC is still not credited. This really sucks. How do those guys not realize the BTC is dying! I really came into crypto believing in the ideals of Bitcoin, now it's sad. I can't image how it is for the early adapters like you guys
SheriU
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@imkeshav, It is unfortunate that we are forced to buy the Slow and Cumbersome BTC ... I try to buy in with ETH where I can ... but yes sometimes I bite the bullet and buy BTC
astrologychick
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This is the smartest and most accurate info on BCH I have seen anywhere. There is even more to the story and I will post a YouTube video on it in the next few days because I believe this is THE biggest story in crypto ever. This is the stuff of legends.
I said quiet a while ago that BCH will overtake BTC and the CASHENING will become a reality. As I am not a technical analyst I am not sure when the cashening will happen, only that once the marketplace realizes what is going on the mania will set in and momentum will make it boomerang over BTC. It could happen all at once (which is what I expect), or not. We'll see. A lot depends on info that I do not have access to. Here's my Eclipse video:
I read the blog post, which you recommended. It looks like a serious global problem of Bitcoin, which sooner or later will make itself felt.
How did Amazon get ready to trade through Bitcoin, if the price of the transaction is high, and the timing is simply gigantic for an online retailer ??
I am a simple person and I have thoughts like - in Amazon are smart people, they should analyze all short-term and long-term risks, do they really look at their use Bitcoin looks normal))) Or is it just total insanity on bitcoin integration?
artgen567
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@artgen567, Although it does not matter who the BTC _is_ will be for them LOL
RiversAndMountains
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@artgen567, They never had planned to use Bitcoin. It was entirely a rumor that was spread and had no substantiation. Truth is they won't use Bitcoin so long as it has the high tx fees and long confirmation times because it'll cost them more in customer service than they can make from the additional business.
That being said, Bitcoin Cash appears to have some 0 confirmation magic coming down the pipeline. Bitcoin Cash may be the one that triggers global adoption of crypto.
The 8mb block and lack of Segwit is actually a really big deal.
artgen567
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@RiversAndMountains, looks like time to start BTC -> BCH transactions, while BTC not so dump =))
artgen567
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Thank you for your post, man! Already for quite a long time in the comments, news and everywhere these ideas slipped.
Bitcoin has really become an extremely inconvenient currency and is completely inappropriate for small transactions.
But how do you think, what could be the reason for the statement about the sale of Bitcoin Cash by Bitcoin Investment Trust to a large share of 60M (173,000 BCH) in early November?
This somehow does not agree with the prospect of a currency soar in price. Why should they?
(sorry for my bad russian english)
RiversAndMountains
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@artgen567, As far as I'm concerned, it's because even large players make mistakes. There's also a lot of behind the scenes things happening with Blockstream and Core's PR department greasing hands and manipulating things in advance of this S2X drama.
Just because some hedge decides to sell their position doesn't necessarily mean anything. Why?
But your write-up convinced me to add more BCH. Unfortunately, the only way I can invest in BCH is through my FIAT->BTC->BCH. Planned to put in $500 and purchased BTC and then sent to my exchange account to convert to BCH
BUT
It's been almost an hour and my BTC is still not credited. This really sucks. How do those guys not realize the BTC is dying! I really came into crypto believing in the ideals of Bitcoin, now it's sad. I can't image how it is for the early adapters like you guys